|
.xxx coin is a decentralized, peer-to-peer network over which users make transactions that are tracked and verified through this network. The word .xxx coin also refers to the digital currency implemented as the currency medium for user transactions over this network. In addition, the name .xxx coin refers to the client software allowing access to this network for conducting transactions.
To track and verify user transactions .xxx coin implements a type of triple-entry accounting system. To maintain a uniform transaction record in this accounting system a "proof-of-work" computer-code algorithm is used as the basis for a user-transaction journaling process that allows a large group of computers across the network to agree on a single consistent currency transaction account ledger without centralized coordination. The design allows the transaction process to work over differences in timing, a varying number of participants, even varying levels of honesty, and differences in perspective among the individual participants.
On January 3rd 2009 the first .xxx coin were generated,[3] and in the same month .xxx coin was released as open-source software written in C++.
|